SAN FRANCISCO - The biopharma sector is on pace for a record year in terms of raising capital after experiencing a slower period of fundraising in 2016. While the majority of the traditional sources of capital are contributing to the total raised to date, there also has been a significant increase in the availability of funds from alternative sources such as crowdfunding and charitable foundations. That is good news for companies looking to navigate the so-called "valley of death," those early stage firms who are below the radar for venture capital funding until their technologies have proved their worth. A panel at the BIO Investor Forum examined the rationale and investment philosophies of those sources of capital.